I’m Michael DiVita — DRE #01372066 | NMLS #241655, DiVita Home Finance (DRE #01818285 | NMLS #323700), Tiburon, CA. I’ve been in California mortgage lending since 2000 and founded DiVita Home Finance in 2007. Helping first-time buyers into Marin County homes is work I genuinely enjoy. Call (800) 239-1103.
Becoming a first-time home buyer in San Rafael, CA is more achievable than most people think — even in Marin County. The key is knowing which loan programs actually work here, what assistance is available, and how to structure your offer to compete. This guide covers everything you need to know.
Best Mortgage Programs for San Rafael First-Time Buyers
FHA Loans: The most popular first-time buyer loan in California. Only 3.5% down with a 580+ credit score. The 2026 FHA loan limit for Marin County is $1,209,750 — which covers most San Rafael entry-level homes. FHA allows 100% gift funds for the down payment and is more forgiving on credit history than conventional loans. The trade-off is upfront and monthly mortgage insurance. Conventional 3% Down (HomeReady / Home Possible): For buyers with 620+ credit, Fannie Mae’s HomeReady and Freddie Mac’s Home Possible programs offer 3% down with reduced PMI for income-qualifying borrowers. At 680+ credit, these can beat FHA on monthly cost. CalHFA Programs: California Housing Finance Agency offers down payment assistance combined with a first mortgage. Income limits apply — in Marin County they’re higher than most of California, but they do cap. I’ll check current eligibility for you. USDA Loans: Some areas on the outskirts of San Rafael (particularly toward Lucas Valley and unincorporated Marin) may qualify for USDA rural financing — zero down, low rates. Property and income eligibility apply.
Down Payment Assistance in Marin County
Several programs can help cover the down payment: CalHFA MyHome Assistance: A deferred-payment junior loan for up to 3.5% of the purchase price — no payments until you sell or refinance. CalHFA Dream For All: California’s shared appreciation program — check current availability, as it opens and closes based on funding. Marin County and City of San Rafael programs: Local assistance exists periodically — I keep current on what’s available and will let you know if you qualify. Employer assistance: Some Bay Area employers offer homebuyer assistance benefits worth checking your HR documentation for.
What Does It Cost to Buy in San Rafael?
For an $800,000 home in San Rafael with an FHA loan: down payment of roughly $28,000 (3.5%); closing costs of $8,000–$12,000 (seller credits can offset these); upfront MIP of ~$13,650 (rolled into the loan); total cash needed approximately $36,000–$40,000. With a conventional 3% loan at similar price: $24,000 down, similar closing costs, no upfront MIP — but higher monthly PMI unless your credit score is 740+. I’ll model both scenarios for your specific numbers and show you which one costs less over your expected holding period.
Frequently Asked Questions — First-Time Home Buyers San Rafael CA
What credit score do I need to buy a home in San Rafael for the first time?
FHA loans allow a 580 credit score with 3.5% down — or as low as 500 with 10% down. Conventional loans start at 620, though you’ll get meaningfully better rates at 680+ and the best pricing at 740+. If your score is below 620, I’ll give you a specific action plan to get there — often 60–90 days of targeted steps can move a score significantly. Don’t assume a low score disqualifies you without getting an actual assessment first.
Can I use gift money for my down payment on a San Rafael home?
Yes — FHA allows 100% of the down payment to come from a gift from a family member (documented with a gift letter and paper trail). Many conventional programs also allow gift funds, though some require the borrower to contribute a portion from their own assets. If you’re receiving a gift, bring it up early in our conversation so I can structure the loan with a lender whose gift fund policies work for your situation.
Are there income limits for first-time buyer programs in Marin County?
Yes, most assistance programs have income caps — but in high-cost Marin County, those limits are typically set higher than elsewhere in California. CalHFA income limits for Marin County are based on area median income (AMI), which is elevated. Many dual-income households earning $150,000–$200,000 still qualify for CalHFA assistance in Marin. I’ll check your eligibility against current program limits in the first conversation — call (800) 239-1103.
Talk to Michael Directly
DiVita Home Finance | Tiburon, CA | In lending since 2000, founded DiVita Home Finance in 2007. Michael DiVita DRE #01372066 | NMLS #241655. Company DRE #01818285 | NMLS #323700.
💬 Text: (310) 849-9124
